n The Retail and Marketing Review - Foreword




Trying to predict world events and the direction of the global economy is no easy task. The events in 2014 have already surpassed the way we expected things to have gone. The Middle East is once again in a conflict situation with Israel; Russia has become the skunk of the western world with the downing of a Malaysian airline by pro-Russian rebels; the recovery of the global economy is stuttering and America is losing its place as the world leader. All of this is leading to businesses being more cautious, and a resultant stagnation and even a slowdown in many areas of the economy is on the rise. However, some major retailers and businesses worldwide have indicated that they expect an upturn in the second half of 2014 and early 2015 - although not at the levels experienced pre-2008. Consumer confidence is holding out, but it is not at the levels needed to secure real economic growth.


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